Robert, you are FAST…I mean, less than 1 minute after I fired off my S.O.S., I saw those threads vaporizing!!! THANK YOU!!!

Thank you for contacting me. It took some doing, but after about 20 minutes I was able to race ahead of them and knock them all down.

I’ll be around the AFB a bit this weekend to just to see if there’s another aggressive attack on the forums. We may get another round or two. Just email me again if I’m not in the AFB when another attack occurs.

Hopefully, the new forums will render such interventions unnecessary. Or less necessary, at least.

Signature

The Summer of AAPL is here. Enjoy it (responsibly) while it lasts.
AFB Night Owl Team™
Thanks, Steve.

I don’t think anyone will mind if you shut the forums down right this minute and bring ‘em back up Monday if it takes that. I’m 100% serious. At least the spambots can’t do anything when the server’s offline.

I don’t think anyone will mind if you shut the forums down right this minute and bring ‘em back up Monday if it takes that. I’m 100% serious. At least the spambots can’t do anything when the server’s offline.

The issue was addressed and members of the AFB would like to continue discussions. I’d certainly like to read more of what members have to say between now and Monday.

Speaking of that, do you think this island reversal has staying power? I know you think we’re going lower (first), but is that based on a Fib retracement, or something worse?

We might be running out of steam a bit, but maybe this drop to 657 might improve our “charts”, and give us enough for the run to 700. Is that what Avi’s still thinking (i.e., before the big drop)?

Thanks, Ms. IPad.

Excellent questions, as always, RG! This is why I always say technicals are informative, not predictive. I can tell you: “if things stay as they are, we’re headed lower.” But who’s to say that things WILL stay as they are? The market is dynamic, not static. Objectively, we are running out of gas, but we may very well refuel.

I don’t necessarily know that we’re going lower first. MACD-h is “poised” to cross down, but it hasn’t yet. We’re neither oversold, nor overbought. We’ve shown relative weakness this week—something we haven’t seen for a while. Are we leading, lagging, or resting? I am wary that the last two island tops we saw (before this one) took many weeks to reverse. Will this one be the same? Not sure.

In truth, I never know what’s going to happen next, beyond my WAGs. I just take it level by level. Watch those support and resistance levels and see how price behaves there. I can tell you I’m not adding to longs until we see the lower BB on the daily, whenever that happens, and if on the next pop, we retest the highs and fail to decisively take out 680 with volume (last breach was panic buying), I’ll add bear spreads.

Avi’s targets are all Fib-based. For this last pullback, he had a target retrace zone of 647-658…in line with our discussion in the Chart Stuff thread. For upside target, he has 694-723, which he’s thinking we’ll hit prior to more substantial retrace.